Holliston secures funds from potential pot facility

HOLLISTON – A proposed medical marijuana facility would pay the town at least $750,000 over five years, according to an agreement approved Monday by selectmen.

This is the third host community agreement Holliston has signed with companies hoping to site medical marijuana facilities within town limits. Those companies need to seek further approval from town bodies, as well as the state Department of Public Health, before conducting business.

Monday’s agreement was with New England Cannabis Corporation, which is looking to cultivate and process – not sell – medical marijuana at 29 Everett Road.

The company would give Holliston $100,000 or 1.25 percent of gross sales its first year in operation, whichever is more. Those numbers increase each year, with the minimum dollar amount capping at $179,375 and the percentage of gross sales capping at 3 percent.

New England Cannabis Corporation also has to use local vendors and contractors where possible, and hire employees locally, according to the agreement, with senior management positions exempt.

It is not yet clear how many positions could be created should the company build its facility on Everett Road. The company’s next steps are to secure approval for site plans from the Holliston Planning Board and state health department, according to Town Administrator Jeff Ritter.

Selectmen previously approved host community agreements with Brighton Health Advocates for a facility on Summer Street, and Mayflower Medicinals, Inc. for a facility on October Hill Road. Neither have yet begun conducting business in Holliston.

Brighton Health Advocates would give the town as much as $250,000 per year for three years, then at least three percent of the facility’s annual sales after that. Mayflower Medicinals would give the town as much as $147,000 each year for five years.

Alison Bosma can be reached at 508-626-3957 or abosma@wickedlocal.com. Find her on Twitter at @AlisonBosma.

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